The dire economic situation in Sri Lanka has seen port workers at the island’s main port of Colombo issued with bicycles to get around as fuel shortages hit home. Sri Lanka is facing power cuts and fuel shortfalls due to foreign exchange shortages, with the country also battling severe inflation in...
Thai dry bulk owner Precious Shipping has acquired a pair of secondhand handysize vessels from Norway’s Njord Shipping for $51m. The company’s subsidiaries, Precious Stones Shipping and Precious Jasmines inked deals for the 2017-built Nordic Seoul and the 2018-built Nordic Busan, respectively. The...
https://splash247.com/precious-shipping-adds-handy-bulker-pair-for-51m/
Japan’s Ocean Network Express (ONE) has signed shipbuilding contracts with both Hyundai Heavy Industries and Nihon Shipyard to construct five 13,700 teu vessels each, all for delivery in 2025. The ships will be both ammonia- and methanol-ready on delivery, with ONE also looking at adding carbon...
Malaysian offshore services provider Sapura Energy has initiated an asset sale process to improve its balance sheet position with the disposal of the 2008-built heavy-lift and pipelay vessel . The company’s subsidiary has entered into a memorandum of agreement with Safeen Feeder Company – Sole...
https://splash247.com/sapura-energy-offloads-pipelay-vessel-for-71m/
Singapore’s Kuok Group is participating in a new project to develop shipboard post-combustion carbon capture technologies. PaxOcean, one of Kuok Singapore Limited’s maritime group businesses, will be working with Nanyang Technological University Singapore (NTU) on a 30-month project led by...
https://splash247.com/kuok-joins-singapores-onboard-carbon-capture-push/
The global average price for very low sulphur fuel oil (VLSFO) has shot up above $1,000 per tonne this week according to data from Ship&Bunker. Moreover, the price differential to high sulphur fuel oil (HSFO) at Singapore, the world’s largest bunkering hub has spiralled to a record $359 per tonne,...
https://splash247.com/vlsfo-prices-top-1000-price-gap-widens-massively-in-singapore/
Petronas has fixed its shipowners it will work with for the next chapter of its LNG carrier expansion plans. The Malaysian energy giant has contracted two Korean owners and a Greek firm for a total of nine gas ships, all of which will be built in South Korea. Broking reports list H-Line Shipping as...
https://splash247.com/petronas-selects-three-owners-for-nine-ship-lng-expansion/
The intra-Asia trades, container shipping’s pipelines, are set to get the green corridor treatment.Lloyd’s Register Maritime Decarbonisation Hub announced today it is working with 11 cross-supply chain stakeholders to develop a fleet fuel transition strategy that can enable the establishment of a...
Thailand’s Regional Carrier Lines (RCL) has returned to CSSC-affiliated Shanghai Waigaoqiao Shipbuilding with a new contract for the construction of two more 7,000 teu containerships. No price has been revealed for the latest order. For the first pair ordered in March this year, the Bangkok-based...
https://splash247.com/rcl-in-for-another-7000-teu-pair-at-shanghai-waigaoqiao/
If you’re a regular consumer of shipping-related social media, you’ve probably recently seen a few maps showing the coast of China with a mass of small dots representing ships. Social media posters claim that the ships are stuck there because of the COVID lockdowns in China. They often also claim so that ships are being held up for more nefarious reasons. We won’t discuss these other reasons, they’re just nonsense as far as we can tell. We will focus on the shipping side of things.
Look, there...